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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Thursday's Gossan, Mount Stavely | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 1/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-1-2019: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursday's Gossan, Mount Stavely deposit at the Stavely project. Drilling results incl. 39m @ 0.31% Cu from 363m. Stavely Minerals Limited (ASX Code: SVY – “Stavely M | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Cairns (Internal) | |
| ABSTRACT: | Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pleased to report further drilling results from the Thursday’s Gossan prospect, part of its 100%-owned Stavely Copper-Gold Project, located in Western Victoria (Figure 1). Recent drilling at Thursday’s Gossan has been designed to follow up on previous porphyry M vein intercepts below the Low-Angle Structure (LAS) in drill holes SMD017 and SMD024 and to test magnetic features that may reflect the presence of M (magnetite) veins or disseminated magnetite associated with copper-gold mineralisation. The drilling is aiming to progress into the hotter part of the mineralised system, where higher-grade copper and significantly higher-grade gold are expected to be located. Assay results have been received for drill holes SMD025, SMD035, SMD036 and SMD041. These holes were located to target the porphyry M veins intersected previously in SMD017 and SMD024 on the next drill sections to the south of the section being reported (Figure 2). The interval of 35m at 0.16% copper is hosted in sandstone with disseminated hydrothermal magnetite, pyrite and chalcopyrite. It is observed in other drill hole intercepts that the mineralising fluids were able to travel significant distances in the more porous sandstone units and consequently these intercepts may not be a reliable indication of proximity to the porphyry source. | |
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